Help Please! Best option for creating a deal with a little equity pretty house

[Gary Alford]

Okay so I'm riding around with my co-worker the other day and we're talking and he happens to mention that he wants to sell his house move into a apartment and be ready to relocate in another year or so. So of course my mind immediately starts spinning trying to figure out if something can be done to make a little something on his home and also make him happy as well. 

What have you guys done to get deals like this done? I was thinking along the lines of a lease option assignment but after reading threads and the Dodd Frank Act kicking in back in January things have me pretty confused. What can I do if anything?